Gatik, an autonomous vehicle startup specializing in self-driving box trucks, has secured $200 million in funding, its largest round to date, just two months after entering into a multiyear commercial agreement with PepsiCo. The financing was led by Qatar Investment Authority and Koch Disruptive Technologies, with participation from Millennium Management, ARK Invest, and Intact Private Capital. Since emerging from stealth in 2019, Gatik has raised approximately $500 million in total, though the company did not disclose its current valuation.
The substantial investment marks a pivotal transition for Gatik, enabling the company to move beyond pilot programs and establish commercial driverless operations with multiple clients across various cities. Gatik has carved a niche in the “middle-mile” delivery sector, focusing on short-haul delivery routes for products such as food and beverages. The company’s fleet of driverless box trucks, manufactured by Isuzu Motors, can operate under diverse conditions, including light rain and snow, and currently serves several high-profile customers, including Walmart, Kroger, and Tyson Foods. The $200 million funding will support Gatik’s expansion plans, including workforce growth and market expansion, as the company aims to scale its operations further. Source